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REGISTERED NUMBER: 07625284 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

CHAMELEON PEOPLE SOLUTIONS LTD

CHAMELEON PEOPLE SOLUTIONS LTD (REGISTERED NUMBER: 07625284)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHAMELEON PEOPLE SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: M J Tiplady
M A Tiplady





REGISTERED OFFICE: 3rd Floor
Lawford House
Albert Place
London
N3 1QA





REGISTERED NUMBER: 07625284 (England and Wales)





ACCOUNTANTS: Sterlings Ltd
Chartered Accountants
Lawford House
Albert Place
London
N3 1QA

CHAMELEON PEOPLE SOLUTIONS LTD (REGISTERED NUMBER: 07625284)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,184 5,203

CURRENT ASSETS
Debtors 5 70,536 53,889
Cash at bank 95,855 101,342
166,391 155,231
CREDITORS
Amounts falling due within one year 6 (49,519 ) (48,997 )
NET CURRENT ASSETS 116,872 106,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,056

111,437

CREDITORS
Amounts falling due after more than one
year

7

(40,423

)

(54,039

)

PROVISIONS FOR LIABILITIES (817 ) (989 )
NET ASSETS 79,816 56,409

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 79,716 56,309
SHAREHOLDERS' FUNDS 79,816 56,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CHAMELEON PEOPLE SOLUTIONS LTD (REGISTERED NUMBER: 07625284)

BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by:





M J Tiplady - Director


CHAMELEON PEOPLE SOLUTIONS LTD (REGISTERED NUMBER: 07625284)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Chameleon People Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced fees and expenses reimbursed,excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on initial cost then reducing balance

Fixtures and fittings - 25% on initial cost then reducing balance

Computer equipment & software - 25% on initial cost then reducing balance

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets or liabilities like trade debtors, other debtors, trade creditors and other creditors, loans from banks or other third parties and loans to/from related parties.

Debt instruments that constitute a financing transaction are initially measured at fair value of future payments and subsequently at amortised cost using the effective interest method. Debt instruments which are payable or receivable within one year such as trade debtors or trade creditors are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit & loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CHAMELEON PEOPLE SOLUTIONS LTD (REGISTERED NUMBER: 07625284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 30,173
Additions 375
At 31 May 2023 30,548
DEPRECIATION
At 1 June 2022 24,970
Charge for year 1,394
At 31 May 2023 26,364
NET BOOK VALUE
At 31 May 2023 4,184
At 31 May 2022 5,203

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 49,427 19,640
Other debtors 21,109 34,249
70,536 53,889

CHAMELEON PEOPLE SOLUTIONS LTD (REGISTERED NUMBER: 07625284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,797 13,580
Trade creditors 4,646 90
Taxation and social security 28,276 33,227
Other creditors 1,800 2,100
49,519 48,997

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 40,423 54,039

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
M J Tiplady
Balance outstanding at start of year 18,622 9,111
Amounts advanced - 9,511
Amounts repaid (9,050 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,572 18,622

M A Tiplady
Balance outstanding at start of year 5,672 -
Amounts advanced 116 5,672
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,788 5,672

During the year, interest of £334 was charged to the directors (2022 - £185). The interest rate was 2% to 5 April 2023, and 2.25% from 6 April 2023 to the end of the financial year.